Goldman Sachs BDC, Inc. (NYSE:GSBD) Position Boosted by Meridian Wealth Management LLC

Key Points

• Meridian Wealth Management LLC increased its stake in Goldman Sachs BDC by 12.5%, now owning approximately 0.27% of the company, valued at $3.64 million after acquiring 34,833 additional shares.
• Wells Fargo & Company downgraded Goldman Sachs BDC's price target from $12.00 to $10.00, maintaining an "underweight" rating on the stock.
• Goldman Sachs BDC announced a quarterly dividend of $0.32 per share, yielding 11.4%, with a payout ratio of 101.59% as of the latest report.

Meridian Wealth Management LLC grew its stake in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) by 12.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 313,291 shares of the financial services provider's stock after purchasing an additional 34,833 shares during the quarter. Meridian Wealth Management LLC owned 0.27% of Goldman Sachs BDC worth $3,644,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GSBD. LPL Financial LLC lifted its stake in shares of Goldman Sachs BDC by 40.9% in the fourth quarter. LPL Financial LLC now owns 144,335 shares of the financial services provider's stock worth $1,746,000 after acquiring an additional 41,915 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Goldman Sachs BDC by 31.9% in the fourth quarter. JPMorgan Chase & Co. now owns 293,491 shares of the financial services provider's stock worth $3,551,000 after acquiring an additional 71,016 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Goldman Sachs BDC by 18.4% in the fourth quarter. Wells Fargo & Company MN now owns 327,622 shares of the financial services provider's stock worth $3,964,000 after acquiring an additional 51,014 shares in the last quarter. Invesco Ltd. increased its holdings in Goldman Sachs BDC by 11.9% in the fourth quarter. Invesco Ltd. now owns 1,095,489 shares of the financial services provider's stock valued at $13,255,000 after buying an additional 116,154 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Goldman Sachs BDC in the fourth quarter valued at about $8,114,000. Institutional investors and hedge funds own 28.72% of the company's stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company lowered their price objective on Goldman Sachs BDC from $12.00 to $10.00 and set an "underweight" rating for the company in a report on Monday, April 28th.

Goldman Sachs BDC Stock Down 1.0%

Goldman Sachs BDC stock traded down $0.11 during midday trading on Friday, hitting $11.13. The stock had a trading volume of 560,096 shares, compared to its average volume of 666,789. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.19. The stock has a market cap of $1.27 billion, a P/E ratio of 8.83 and a beta of 0.75. Goldman Sachs BDC, Inc. has a 12 month low of $9.51 and a 12 month high of $14.54. The business has a fifty day moving average price of $11.52 and a 200 day moving average price of $11.61.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). The firm had revenue of $90.97 million during the quarter, compared to the consensus estimate of $94.55 million. Goldman Sachs BDC had a net margin of 36.17% and a return on equity of 13.95%. Research analysts predict that Goldman Sachs BDC, Inc. will post 2.19 EPS for the current year.

Goldman Sachs BDC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 28th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.28 annualized dividend and a dividend yield of 11.5%. Goldman Sachs BDC's dividend payout ratio is 101.59%.

About Goldman Sachs BDC

Goldman Sachs BDC, Inc is a business development company specializing in middle market and mezzanine investment in private companies. It seeks to make capital appreciation through direct originations of secured debt, senior secured debt, junior secured debt, including first lien, first lien/last-out unitranche and second lien debt, unsecured debt, including mezzanine debt and, to a lesser extent, investments in equities.